The survey was done in 41 countries across the world.
NEW DELHI, Nov. 10 (Xinhua) — India has earned the dubious distinction of coming out on top in losses caused by shoplifting by both customers and staff and theft in transit, reported the local newspaper Daily News and Analysis on Tuesday.
The newspaper quoted the Global Retail Theft Barometer 2009 Survey as saying that in a survey of the retail businesses in 41 countries, India came out on top when it comes to “shrinkage”, an industrial term for losses caused by shoplifting.
India also has a shrinkage rate of 3.2 percent that is the highest in nine countries surveyed in Asia-Pacific and cost companies roughly 120 billion rupees (2.4 billion U.S. dollars) a year, said the newspaper.
Nearly half of the loss is caused by shoplifting of customers, while employee theft accounts for 23,3 percent, and the rest goes to internet error or process failures, said the report.
It may be time to call India a country of shoplifters. The Global Retail Theft Barometer 2009 Survey, which is a survey of the retail businesses in 41 countries, says India has earned the dubious distinction of coming out on top when it comes to “shrinkage”.